Statistics 101: Multiple Linear Regression, Dummy Variables
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- Опубліковано 20 лип 2024
- In this video, we learn about dummy variables: what they are, why we use them, and how we interpret them. It is assumed that you are comfortable with Simple Linear Regression and basic Multiple Regression. If not, please review my playlists on those topics. Keep on learning!
My playlist table of contents, Video Companion Guide PDF documents, and file downloads can be found on my website: www.bcfoltz.com
#statistics #regression #machinelearning
You're one of the best teachers on UA-cam. This explanation was 10x better than my professor
Indeed, he is.
@@brunoebe866 agreed!
agree@@arunakandasamy8804
I can't put my finger on how you do it, but you manage to explain so many concepts so clearly and concisely. I learned more in twenty minutes from than in a two hour lecture hall. Fantastic!
These videos are incredibly accessible and are saving my LIFE this semester. Thank you!!
at first by looking at comments, I thought the video was so overrated, but it truly is good. Thanks gor clarifying every single moment, it helps a lot!
After so many years of being a student, I have the flair to see who is born to be a professor and you surely are.Thank you for being the best professor there can be during this quarantine
As they say here in Australia, you my friend are a bloody legend! Thank you for the excellent content. Great message to being with as well, that we ought to share our gifts.
*NEW* video is live! Intro to dummy variables. Enjoy and thanks for watching!
I would like to know, if we have the total revenue and total debt, which should be considered as the independent variable and which as the dependent one, as well as if we have the price per share and the volume of the traded shares. Which of these have to be applied as y and which as x?
Thank you.
+ Lozan Lishev What is your research question? What are you attempting to predict/determine? That will determine the model structure.
In the former case I am trying to predict the revenue about the upcoming year, and in the latter case I am trying to understand how the volume of traded shares is impacting on the price.
Thank you.
OK. In the first case the revenue is the dependent variable (y) and total debt would be the independent (x). In the second case price is the dependent. The dependent (y) variable is what you are trying to predict.
Yes I just saw your videos regarding correlation and many things have become clear to me. I am just new to statistics, I have tried to study math as a subject, just to know how to calculate, but later on I realized that the world has its own math incarnated in time’s dimensions. Anyhow, in my opinion is very important to pick up our data and prediction selectively, because nonlinearity and uncertainty appear more often, than we think.
Thank you.
I love the video but there is just a small mistake in minute 17:49. it should be I think (27.1+98.6)+0.0621x1 instead of (27.1+98.6)+98x1. Thanks a lot I love your videos It helped me a lot !
I did not expect the intro to actually be worth the time spent listening to it but wow, I am glad I was wrong. I went back and listened to it three times. XD Thanks!!!!!
Brandon, ive failed my test 2 times because i couldnt begin to understand econometrics. However, youve made me think why have i struggle so much for so long! my resit is in 30 days, but i feel a lot more prepapred, thanks to you. You are my angel.
i wish i had access to these vids in my undergrad. i suffered so much. i plan to not have the same experience for my masters
Thanks a ton, Brandon! I enjoyed it a lot. I've been learning Statistics on my own and this video is clear and makes it easy to catch.
Greetings from Germany - thank you so much for your videos. They are absolutely saving my life!
You are great not only the best teacher but also a great motivator. Thank you for sharing your knowledge. May God bless you.
Just awesome. I really feel motivated and eagerness to learn has scaled new heights. Thanks for ur valuable contribution in my career growth. Really appreciate it.
abhijit s Awesome! And you are very welcome. Keep on learning! :)
Exemplary work Brandon! You post the clearest stats videos ever!
Excellent teaching skill and presentation. Thank you very much!
Thank you for a great, comprehensive video. Finishing a stat course but didn't quite get it until now. Great job!
Great work! You have explained everything very clearly and practically. I love it.
Thanks for the enrouagement and clarity of explanation. Plus I finally can focus on the interpretation. Thanks, Brandon.
Excellent video. You must understand this topic very well to be able to explain it in such laymen's term. Please continue the good work!
Thanks a million! You have explained a very difficult concept in a very simple and clear way.
Thank you so much for your Multiple Regression series! It's so helpful!
Thank you so much. I had this lecture in class but just got confused. U fixed/clarified everything. God bless!
The best in the world in explaining dummy variables regression !! Love u.
Hi Brandon, this video is indeed well done and helped me understand something in my Regressions Analysis class. I just wanted to point out a small error at around 17:44 in the second to last line where the last term should be 0.0621x1.
Thank you so much for these videos. I like how you teach the concept rather than just reading the output!
Brandon your videos are life savers really. I'm so glad i found them
Great videos! Many thanks Brandon.
You are literally the best. Thank you for these videos!
Thank you for explaining the video in a great way! Full of content, I do understand more after watching this video!
Thank you. The video helped me, I was directed here from Nexford University. I wish there was a video with four categories like the North, west, south and east, so that I can see practically how that would work.
this intro was super wholesome, i needed this ♥
great instructor in sequence and easy to follow with clear English
Thank you very much for the very useful vieo :) The way you explain is just perfect, makes everything looks so simple and understandable !! I wish you a lot of success and please, keep sharing your knowledge.. we need it!!
Nice set of videos Bro. Keep them coming!! Hats off to you!
Thanks for the video. The logic is so clear and easy to follow. Love it and appreciate it.
I do like your videos, they help me understand the concepts and how to approach the problems. Something I would like to see is creating and using a hypothesis test with multiple regression.
You are best teacher i have ever seen,i have learnt a lot of concepts from your channel
This guy is amazing! Thanks for making stats inspirational
Wow best most simple explanation iv seen , Keep it up !
Hi, Thanks for your videos. I am regularly watching your videos. I love all your tutorials. Did you have the video which defines control variables too ? I wanted to learn more.Thank you.
wow, you're the best lecturer ever!
Excellent explanation! The way you explain it clear and interesting. Thank you and keep it up
Thanks Brandon, in very simple way you have really clarified a number of misconceptions of mine which many people had created in me about regression while teaching me regression. I've just watched this 4th lecture and these lectures have boosted my moral to write some article using regression. One of my professors said that these days regression technique is obsolete and is not that reliable, it is taught to students just for the sake of basic learning. What are your comments?
This is super helpful. I like your teaching and also your sharing concepts. Thank you very much!
Excellent explanation! thank you!
Beautiful. you make this look so SIMPLE!
Its the best statistics chanel :) Thank you
Very clear explanation and you explain one by one. i have a test about this chapter tomorrow. thankyou for this video.
Amazing video. Thank you so much for making these videos.
Great explanation 👍🏻. This video has a very useful and helpful content. I was able to understand more on this topic after watching this video.
Great lesson !
thank you for helping me survive the stats exams!!!
Thank you for this extensive and informative explanation.
Hi, thank for these sharing. I'm getting better understainding for the statistics. I would like to know could we find the dataset to perform the same practice?
Great explanation. Thanks for putting together such clear content. There appear to be two significant outliers, one in each group (exemplary and not); maybe foreclosures? Those data points are pulling down the slope. With more data and some light outlier detection and removal, this likely wouldn't be an issue. Wondering if others think about this similarly.
Thank you very much. Your content really help me in understand my ECO 545 subject. As tommorow i got a test so wish me luck guys.
Your a great teacher - thanks for your time.
The explanation on having two regression equations really triggered an a-ha moment; the last slide makes so much sense now. My professor only showed the curve shifting up without saying WHY -.- If you have the time, would you be able to do a video on log transformation of data in regression?THANK YOU! Eternally grateful for your videos.
your explanation is very easy to understand furthermore, you explain it step by step
You have literally made stats easy for me,i had a mental Block with regression before i came across your video and my biology background made it worse.Thank you so much
This video really make me understand and Really usefull. Best teacher on youtube. Thank you.
This was brilliant, thank you so much.
Hi Brandon!
Excellent video as always! I have a query though; at the end when you showed the 2 types of regression lines - one showing for individual groups and the next showing lines averaged over all points. Of the two, which one should I be using to make predictions? For example, let's say I want to predict the price of a house with NON EXEMPLARY high school given its area in sqft - should I use the model that fits all the NON EXEMPLARY houses or the model that averages all of it?
Thsnk you so much, Brandon. Very nice and easy to follow.
Thank you so much!
You are doing a great job!
Wonderful. I've not heard of 'dummy' variables before. This video is close to what I think I need to do for some of my analysis. I have 4 categories of wetlands that I ranked based on landuse in a 100m buffer around the wetland. What I'm trying to see is if that LU rank can predict the way the wetland scores on an ecological assessment. Cool. Though I'm a long way from understanding all of this, I'm no longer buried under the mud. This stuff is actually pretty cool. Love what you're doing and how you go about presenting the lessons.
i could use this
Brandon> Thanks a lot for sharing with me your great informative videos. Really appreciated
I would put you in my will if I had anything to give. Your videos are so carefully thought out. Thank you for teaching this in a way that makes sense and for the supporting words at the beginning of each video. It all really helps in this learning process.
Hi Andy. You have given the most valuable thing you have; your time. And what you leave behind by learning and working hard is timeless. All I ask is that you pay it forward to someone else if you see someone you can help. Keep on learning!
Thank you for the encouraging words again. I will definitely pass it on to others in need!
Wauw thank you so much. Your so clear. English is not my first language, I'm Dutch, but it's still easy to follow by how you explain! This is really helpfull:-)
I really appreciate these tutorials about multiple regression. Just a small note, shouldn't the intercept be omitted from the final model since it's not significant?
Thank you for your help. You’re a really good teacher
Good resources on info of linear regressions
Brandon Your video is great. ! Thanks for supporting people education. !
Thank you! Awesome videos!
Thank you sir for sharing. It helps me a lot.
Thanks a lot, thats a video that I found here is pretty well explained and delivered in easy way. a suggestion could be to shorten the duration a little bit. we will look forward to have some other videos regarding other topics that would definately be heplful for those who are learning econometrics as specialized subject of pursuing his degree.
You missed Nottingham in your intro Brandon. Great videos, as always.
Thank you very much for the very useful video. The way u explain just perfect. Keep sharing your knowledge.
Amazing teaching thankyou so much !!!!
Best Explanation Thank You So Much
thank you for your explanation about this topic!! it helps me a lot 😊
Great explanations .keep it up
You are the Best. Thank you
Coach, thanks again for your videos. What is the difference between F-value and P-value?
Good explanation..thank you for sharing. It help me a lot👍
You make an otherwise ugly topic bearable! very practical explanation
Thank you for your encouragment x
Beautiful video, Thank you very much :)
Excellent!!
You are awesome man!!
Thank you very much, dear teacher
I have a question
If we have more than two independent variables in this case, how can I find the significance test for the estimated parameters?
tb1 and tb2 and tb3
Brandon ! this is an amazing lecture ! , Mumtaz (in Arabic )= Excellent
Hi Brand, as I had a question in the earlier video. here also bit confused how we are getting df=2.
Thanks a lot! It helped me a lot! 😉
Bro, I always find my way back to your lectures. Everyone else speaks in tounges when TRYING to explain
Hey Brandon, got a 100 in my multiple regression test today!! Thank you for your work. One quick question that I have been having a difficult time in getting answered correctly. When using a T-table or any stats table for that matter and the degrees of freedom that you need is not listed which value do you use?
For example:
I need to look up 65 degrees of freedom but the table only lists 60 then skips right to 70. Which critical value should I use?
@@liamhoward2208 Hi Liam, in my experience with AP statistics, we always use the higher of the two numbers. The reason for this is the associated p-value is lower, therefore it is more conservative.
Thanks, Brandon. I would love to learn more about statistics. I am a doctor and do not fuly uderstand the field.
You are the best!
Hi Brandon Foltz , Is there any videos on KNN, K means clustering?